U.S. corn spot prices rose on June 6 due to a sharp drop in the good-to-good rate

On June 7, according to media news: On Tuesday, the spot price of corn in the United States rose, mainly because the good-to-good rate of corn in the United States dropped sharply.

The U.S. Department of Agriculture said 64 percent of U.S. corn was in excellent to good condition, down 5 percent from a week earlier and the biggest drop since 2012 for the same period.

For reference, a severe drought in 2012 reduced corn yields by 25%.

In central Illinois, corn processors offered No. 2 yellow corn at an average of $6.4717 a bushel, up 10.5 cents from the previous session. Basis offers range from 23 cents to 50 cents above CBOT July corn futures.